abrdn European Logistics Income PLC - investment fund, which is focused on European logistics real estate - Completes the sale of a 30,180 square metre warehouse in Meung sur Loire, France, to Castignac. The €17.5 million disposal price is in line with the December 31 valuation and reflects a 7% discount to the September 30 valuation. Says the vacant asset, previously occupied by Office Depot, is located in Central France, 27 kilometres southwest of Orleans, and serves Paris, Central and the South of France for both national and international distribution.
Lead Fund Manager Troels Andersen comments: ‘Although well located in the centre of France, this property had been vacant since the administrator of Office Depot closed its liquidation and required material capital expenditure. Having explored various options, we believe this is the right time to crystallise our investment in this asset, providing additional cash to strengthen the company’s balance sheet.’
Current stock price: €0.71
12-month change: down 10%
Copyright 2024 Alliance News Ltd. All Rights Reserved.